. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

TCI Investors Presentation FY 2015-16 (Q3)

2

Cautionary Statement

Statements in this Presentation describing the Company’s objectives, estimates, expectations or predictions may

be forward looking statements within the meaning of applicable securities laws and regulations. Actual results

could differ materially from those expressed or implied. Important factors that could make a difference to the

Company’s operations include global and Indian demand supply conditions, cyclical demand and pricing in the

Company’s principal markets, changes in Government regulations, tax regimes, economic developments within India

and other factors. The Company assumes no responsibility to publicly amend, modify or revise any forward looking

statement, on the basis of any subsequent development, information or events, or otherwise.

About TCI Group

3

Group TCI

4

SBUs & Services

FTL/FCL, LTL & Over-

dimensional cargo services

through Road, Rail & Sea.

India’s fastest gro ing express company for door to

door courier and cargo.

Leading player in Coastal

Shipping , NVOCC & Project

Cargo

A Single-window solutions

enabler from

Conceptualization to

Implementation

Completes the service

offering of the Group with

connectivity & services

across the world at global

standards

Other Group Companies & Services

JV with CONCOR to provide

end to end multi modal

solutions.

TDL undertakes

development of the

commercial properties of

TCI. It also develops large

scale Warehouses, Logistics

Parks etc.

JV with Mitsui & Co for Auto

logistics (Toyota India

project)

TCI Transportation

Company Nigeria

Ltd.

A JV between Indorama

Eleme Petrochemicals Ltd.

and TCI Global

Group TCI

5

Key Facts GST Ready New Warehouse locations

Year of

Establishment

Turnover

Company Owned

Branches

Warehouse

Covered Area

Vehicles/Day

Managed on Road

1958

2.5%

1400+

10.5 Mn Sft

9000

5 new Warehouses (For W/H management only)

One at Nagpur

(1.65 lakhs sq. ft.)

Two at Chennai

(45,000 & 8 lakhs sq. ft.)

One at NCR

(2.5 lakhs sq. ft.)

One at Hyderabad

(1 lakhs sq. ft.)

Movement

by Value of India GDP

2800 Cr.

Employees Strength 6000+

Listed Entity Rated and Certified

Corporate Social Responsibility

Engaged in areas of education, women & child health,

disability alleviation and rural sports growth.

Non Discrimination Policy

• Regular conference calls and annual meet with shareholders and analysts

• Timely and transparent disclosures through comprehensive annual reports and corporate presentations

(readily available on the Company’s website)

Corporate Governance

On-going Investor Outreach programs

6

Management Body

Executive Committee Core Committee (Divisions)

Long term strategy, policy makingMDs, CEOs, BD & Marketing, Accounts &

Finance, Human Resources, IT, Legal Heads

Operational reviews/ Business strategyCEOs, MDs, BD & Marketing, Finance, Operations &

Regional Heads

Unique to Logistics industry with high degree of professionalism

Management Body

7

Name Designation

Mr. S M Datta Chairman (Non-executive independent director)

Mr. D P Agarwal Vice Chairman & Managing Director

Mr. S N Agarwal Non-executive director

Mr. O S Reddy Non-executive independent director

Mr. K S Mehta Non-executive independent director

Mr. Ashish Bharat Ram Non-executive independent director

Mrs. Urmila Agarwal Non-executive director

Mr. M P Sarawagi Non-executive director

Mr. Vineet Agarwal Managing Director

Mr. Chander Agarwal Jt. Managing Director

Board of Directors

8

Impact of Macro-economic changes on Logistics

DFC/

Diamond

Quadrilateral

• Creation of additional dedicated rail freight capacity,

• Will reduce unit cost of Transportation by speeding up freight train operations.

• Increased bulk multi modal movement for improved productivity & efficiency

• Will result in development of logistic Warehouses in the vicinity of Freight Corridor.

GST

• Rationalizing the impact of taxes on Production, Distribution and Inventory management

• Consolidation of warehouses and moving towards Hub-and-spoke model

• Multi modal movement between Hubs

• With increased per capita disposable income, consumption driven sectors will grow

• Sectors like Food services, e-commerce, consumable durables etc. will get a boost .

E-commerce

driven growth

in consumption

• Growth in trend towards outsourcing of logistics in non traditional industries

• Larger scope of outsourcing e.g. order processing, packaging, kitting etc. will go up

Increased

outsourcing of

Logistics

9

GST-Key Implications on Warehouse & Transport

Industry

Transportation

• Larger Warehouses and borderless movement of goods would leads to increased transportation lot sizes, multimodal movement

• Lesser border checks/paper work would lead to faster movement of trucks. Transit times and cost may shrink by 20-30%

Warehouse

• Network to be determined based on the ambit of Additional Tax.

• Network optimization efforts to commence

• Consolidation of warehousing to commence.

• Emergence of hub and Spoke model

• Larger sizes of warehouses (hubs)

• Warehouses closer to manufacturing and/ or consumption areas.

GST

•Rationalizing the impact of taxes on Production, Distribution& Inventory

management

•Consolidation of warehouses

•Multi modal movement between Hubs

10

TCI : Serving the Complete Ecommerce Chain

Customers

Companies

Consolidation

center

Warehouses

Dedicate &

SharedSuppliers

1. Marketplace

2. Inventory Based

1. At Supplier

i Supplier

Coordination

ii Scheduling

iii Route optimization

2. Inventory / Marketplace / Cross Dock- FC

i Receipts and Bar Coding

ii Put away and Storage

iii Order processing on SLA

iv Sortation and Ship

v Return Shipment Management

Vi Return To Vendor

3. At Customer place

i Doorstep delivery

ii FOD

iii Reverse logistics

~ 200,000

units / day

~ 150,000

Orders / day

~ 20,000

Deliveries / day

11

Industry

Scenario

Mature, Fragmented,

Low barriers to entry,

low cost

Growth, niche, high

entry barriers, cost

efficiency

Nascent, knowledge

based, very high

barriers, single window

Growth, high entry

barriers, low cost

Industry

Growth5-8% 8-12% 15-20% 10-15%

% of Total

Revenues

(FY 15-16 Q3)

37%

(611 cr.)

29%

(483 cr.)

28%

(460 cr.)

6%

(96 cr.)

TCI EBIDTA

Margins3-5% 8-10% 10-12% 25-30%

Rev. Growth

CAGR 5 Yrs.2.2% 11.3% 19.8% 13.2%

ROCE (5-yr

Average)11% 46% 25% 17%

ROCE (10-yr

Average)15% 40% 23% 19%

Industry Dynamics and SBU Snapshot

12

Standalone Revenue Mix : Share of XPS & SCS is rising

Divisional Performance

13

50%46% 43% 40% 38% 37% 37%

27%26%

27%28% 30% 30% 29%

17% 22% 25% 27% 27%28%

28%

4% 4% 5% 5% 5% 5% 6%

2% 2% 1% 1% 1% 1% 1%

7.7%

7.8%

8.1%

7.7%7.6%

8.3%

8.4%

7.2%

7.4%

7.6%

7.8%

8.0%

8.2%

8.4%

8.6%

0%

20%

40%

60%

80%

100%

FY10 FY11 FY12 FY 13 FY14 FY15 FY16 UP TO Q3

Freight XPS SCS Seaways Others EBIDTA Margin

• One of India’s premier organized freight services provider with pan India presence

• Around 2400 trucks and trailers, both owned and leased, provide freight movement services on a daily basis

• Single window Key Account Management (KAM) solutions for managing information flow and tracking

• Started new service for SAARC region.

Over Dimensional Cargo

Provides logistics solutions

for over dimensional, bulk

and heavy cargo

Project management

Own hydraulic axles and

trailers

Rail

Provides different types

of services such as

containers, wagons and

special automotive

wagons

Road

Provides full truck load

(FTL), less than truck load

(LTL) and parcel services

600 owned offices

Large client base with a

strong Key Account

Management system

TCI Freight Division

14

51% equity stake

Container Corporation of India Ltd

49% equity stake Potential Benefits

• Integration of rail and road cargo movement

• Establishing synergy between two rail and road giants

• JV company provides end to end multi modal solutions

• Providing ideal mix of cost & speed

• Total Paid up Equity- Rs 7 Cr

• FY 2015-16 (Q3) Net Revenues- Rs. 96.5 Cr. and Net Profit of

RS. 0.75 Cr.

Multi-modal Logistics JV

15

Revenues 611.2 1.6% 601.6 810.6

EBDITA 16.6 15.3% 14.4 21.4

EBITDA Margin % 2.7% 2.4% 2.6%

PBIT 9.4 17.5% 8.0 12.6

Capital Employed 198.5 1.6% 195.3 194.7

2015-16

(Q3)

% increase over

last year

2014-15

(Q3)

2014-15

(Audited)

Division’s share in overall business consistently reducing

Share in total

Revenue46% 43% 40% 38% 37%

FY 2010-11 FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15

Outlook:• Projected growth of around 5-10% with better economic conditions

• Focusing on high margin sundry and LTL business

• Better utilization of fixed cost of branches , hubs and manpower

Rs. In Crores

TCI Freight Division: Financials

16

• The division provides express door-to-door service for time sensitive and high value documents and parcels

• Operates through dedicated vendors

• 10% business is through air cargo

• Growing in both B2B and B2C part of e-commerce business

Domestic & International

13000 locations in India &

200 countries

Air (chartered space from

Airlines)

Surface: Road & Rail

Value Added Services

Diplomat (non service

location) Delivery

Holiday Service

Freight on Delivery

Money back guarantee

scheme

USP

Air cargo: all dimensions

Well positioned hubs

Key Account Management

system

TCI XPS Division

17

Revenues 482.9 -1.6% 491.0 658.9

EBDITA 39.7 4.5% 38.0 51.9

EBITDA Margin % 8.2% 7.7% 7.9%

PBIT 35.4 5.0% 33.7 45.9

Capital Employed 142.3 43.0% 99.5 105.0

2015-16

(Q3)

% increase over

last year

2014-15

(Q3)

2014-15

(Audited)Rs. In Crores

Outlook

• Business growth projected at 15%-20% with increased focus on ecommerce, high consumption driven sectors

• Focusing on improvements in operating margins by better capacity utilization and services automation

TCI XPS Division: Financials

18

Auto Retail & CP Hi-Tech Pharma Cold Chain Chemicals

Record

Management

Services -RMS

Supply Chain Consulting

Design of Supply chain strategy from

procurement to distribution

Supply Chain Execution

Lead Logistics Provider

Warehousing

Distribution Centers, Cross Docks & In-Plant

Cold Chain

Transport & storage solutions for perishable

cargo in Pharma, Foods & Chem

Key Account Management

Group Services

Marquee Customers

Maruti, VW Group, Tata Motors, Hero, Bajaj,

Hindustan Unilever, Samsung,

• SCS division provides inbound/outbound logistics and supply chain solutions from conceptualization to

implementation

• Operates with a customized fleet of 1100 own trucks including 34 refrigerated trucks

• Auto sector currently contributes to 75% of total SCS revenue

• High growth in managing Fulfillment centers and backend operations for e-commerce

TCI Supply Chain Division

19

49% equity stake

Mitsui & Co. Ltd

51% equity stake

Synergy with TCI

• Lead logistics partner for Toyota Kirloskar Motors Ltd.

and for other Japanese auto companies in India

• Complete logistics solutions from inbound to outbound

transportation across India and abroad

Automotive Logistics JV

20

Revenues 460.2 1.3% 454.5 611.8

EBDITA 47.5 2.4% 46.4 64.8

EBITDA Margin % 10.3% 10.2% 10.6%

PBIT 26.7 3.5% 25.8 37.4

Capital Employed 219.5 35.2% 162.4 163.6

2015-16

(Q3)

% increase over

last year

2014-15

(Q3)

2014-15

(Audited)Rs. In Crores

Outlook

• Planned growth of 20+% with improvement in auto, retail and economy in general

• Aims to be significant player in warehousing in Apparel, Retail, FMCG and E-commerce

• Significant pipeline of potential contracts in all verticals

TCI Supply Chain Division: Financials

21

Ships Owned

04 domestic ships with

capacity of 3500 – 10600

DWT, including Project Ships

equipped with own cranes

(Total capacity of 23360

DWT)

Coastal Shipping Services

Scheduled services on both

coasts:

-Mundra to Cochin

-Chennai/Vizag to

Andamans

Other Services

Chartering of Vessels

Stevedoring & MTO License

NVOCC with own & leased

containers

• This division provides coastal shipping services for transporting container and bulk cargo along the Western

& Eastern coast of India

TCI Seaways Division

22

Revenues 96.2 18.6% 81.1 112.9

EBDITA 24.2 7.6% 22.5 33.7

EBITDA Margin % 25.2% 27.7% 29.9%

PBIT 18.9 -1.6% 19.2 28.6

Capital Employed 156.3 8.2% 144.4 156.0

2015-16

(Q3)

%increase over

last year

2014-15

(Q3)

2014-15

(Audited)Rs. In Crores

• Two ships were added in the year 2014-15 with a DWT of 15362.

• Good response to new ship deployed at west coast this year.

Outlook

• West coast service to further stabilize and grow

• Over all planned growth is 25% supported by stabilized operations at west coast

• Increasing awareness of coastal service as a multi modal option

TCI Seaways Division: Financials

23

Cumulative capacity 11.50 MW 11.50 MW 11.50 MW 11.50 MW 11.50 MW

Capital Employed 37.4 34.6 31.1 29.6 28.4

EBIDTA 6.0 6.3 5.8 5.0 4.1

Rs. In Lacs2011-12

(Audited)

2012-13

(Audited)

2013-14

(Audited)

2014-15

(Audited)

2015-16

(Q3)

Energy division

Global division

• TCI Glo al’s new initiative to target international business through subsidiaries

• Two Operating International JVs in Indonesia and Nigeria.

• Activities undertaken: Local Distribution and Mining Logistics.

Other Divisions

Rs. In Crores

24

Income Statement

Standalone Results

Particulars (Rs in Cr.) 2014-152014-15

(Q3)

2015-16

(Q3)

Freight 2050.01 1525.99 1514.88

Other Sales & Services 146.74 105.21 140.82

Other Income 12.38 8.84 10.18

Total Income 2209.13 1640.04 1665.88

Revenue growth % 8.66% 9.60% 1.58%

Operating expenses 1764.78 1320.90 1310.02

Other expenses 261.61 186.66 215.69

Total Expenses 2026.39 1507.56 1525.71

EBITDA 182.74 132.48 140.17

EBITDA Margin % 8.27% 8.08% 8.41%

Interest Expense 31.91 25.02 20.88

Depreciation 49.46 36.21 39.23

Exceptional Item 0.17 0.00 0.00

PBT 101.20 71.24 80.06

PBT Margin % 4.58% 4.34% 4.81%

Taxes 25.25 16.80 18.98

PAT 75.95 54.45 61.08

PAT Margin % 3.44% 3.32% 3.67%

Particulars (Rs in Cr.) 2014-152014-15

(Q3)

2015-16

(Q3)

1. Shareholders Funds

Share Capital 15.13 14.65 15.21

Reserves & Surplus(Excl. Rev. res) 551.67 492.69 628.62

2. Non Current Liabilities

Long term Borrowings 73.45 74.68 105.56

Deferred tax Liabilities (net) 28.48 32.37 30.00

3. Current Liabilities

Short term borrowings 197.53 259.82 215.33

Trade payables 69.30 86.55 100.20

Other current liabilities 53.31 64.92 52.42

Short term provisions 56.46 42.62 69.71

TOTAL 1045.33 1068.30 1217.06

1. Non current Assets

Fixed Assets 470.66 468.38 530.79

Non current Investments 44.40 44.58 44.40

Long term loans and advances 40.71 41.99 76.07

Other non current assets 2.64 0.75 2.64

2. Current Assets

Inventories 2.28 2.52 2.27

Trade Receivables 393.84 401.67 428.10

Cash & cash equivalents 16.51 21.57 24.95

Short term loans and advances 73.02 86.40 106.56

Other current assets 1.27 0.45 1.27

TOTAL 1045.33 1068.30 1217.06

Balance Sheet

25

Owing to Top ratings from Credit Agencies, good financial discipline and high creditworthiness, TCI’s a erage interest cost is below 10.00%

Debt – Equity Ratio Earnings per Share (in Rs)

Financial Performance

Debt Service Coverage Ratio Times 1.80 2.39 2.78

Return on Capital Employed % 14.62 15.20 14.10

UOM 2013-14 2014-15 2015-16

(Q3)

26

0.860.88

1.00

0.93

0.85

0.690.54

0.51

0

0.2

0.4

0.6

0.8

1

1.2

2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

Q3

3.91

5.937.07 7.13

7.13

8.51

10.50

8.03

2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

9M

Hub Centers & Small

warehouses 218.6 41.6 166.8 75.3

Wind power 9.0 0.0 0.0 0.0

Ships & Containers 73.9 77.6 2.2 3.6

Trucks & Cars 220.0 20.7 80.0 43.3

Others (W/H Equp., IT

etc.)64.5 12.6 26.0 4.5

Total 586.0 152.5 275.0 126.6

Total Actual

(FY 2006-07 to

2013-14)

2014-15

Actual

2015-16

Proposed

2015-16

(Q3)Rs. In Crores

Funding Pattern:

Sources of finance for the Capex in FY 2015-16

Rs. In Crores

FY 2015-16 200 59 16 275

Debt Equity Free Cash Flows Total

Capital Expenditure Plan

27

Market SummaryMarket Summary (Rs In Crore)

Market Cap as on 31st Dec`15 2256

Debt 331

Enterprise Value 2562

P/E 27.7

EV/EBITDA 13.7

52 Week High 338.60

52 Week Low 199.20

67%

14%

8%3%

6%

2%

Shareholding Pattern as on 31st

Dec 2015

PROMOTORS

INDIAN PUBLIC

FOREIGN HOLDINGS

BODY CORPORATE

MUTUAL FUND

OTHERSConsistent Dividend track trend

30%

40%45%

50% 50%

65%

75%

18% 16% 15% 16% 16% 18% 18%

-10%

5%

20%

35%

50%

65%

80%

FY09 FY10 FY11 FY12 FY 13 FY14 FY15

Dividend Ratio Dividend Payout Ratio

Stock Performance

Invested in 1000 equity share @ 18/-in 2001

Share Split 5 share of 2/-each for 1 share of 10/- in De ’

Demerger of Real Estate division to TCI Developers in Mar h’

Investment given 35% of CAGR return by De ’

Initial Investment

Of Rs 18,000

Total Number of

Share increased

to 5,000

1 share in TCI

Developers

against 5 share

held in TCI

• Dividend

Rs 55,125

• Market Value

of Investment

Rs. 15,58,750

29

About Recent announcement on Demerger

On 8th October 2015 ,the Board has approved demerger of XPS Undertaking into wholly

owned subsidiary TCI Express Ltd. Necessary filing has been made with stock exchanges.

Complete details in respect thereof are available at tcil.com

On 1st Fe ruary ,B“E and N“E have issued No O je tion Certifi ate NOC in respect of proposed scheme of arrangement. The scheme has been filed with Hon. High

Court of Talengana & A.P

Rationale of Demerger

31

Focused leadership & management required

The XPS undertaking has tremendous growth and profitability potential, more specifically in E-commerce space where it requires focused leadership and management attention.

In estor’s attracti eness and unlocking shareholder's alue

The nature of the risk and competition with respect to the business of XPS Undertaking is distinct from the other businesses of the Remaining Undertaking and consequently, upon demerger, the XPS Undertaking would be capable of attracting a different set of investors and strategic partners.

Opportunity for Best Investment Strategies and diversification

The reorganization proposed by this Scheme will enable investors to separately hold investment in businesses with different investment characteristics, thereby enabling them to select investments which best suits to their investment strategies and risk profiles.

The reorganization will enable the demerged company to focus its residual business and achieve greater synergies.

Greater Synergies in remaining businesses

Key Points of Demerger Scheme

32

Swap and Exchange Ratio

• The Equity shareholder of TCI will receive 1 equity share of Rs. 2/-each of TCI Express Ltd. For every 2 equity share of Rs. 2/- each held on the record date of the Company.

Listing of Resulting Company

• As part of Scheme, TCI Express Ltd. Shall also seek listing on Stock Exchange(s) after approval of the Scheme by the Hon`ble High Court.

Appointed Date

•The Appointed date would be closing business hours of 31st March 2016 or such other date as may be approved by Hon`ble High Court.

Growth Drivers

• Warehousing

• Consumption driven sector like FMCG, Retail , Auto etc.

• E-Commerce

Cost Drivers

• Economies of scale

• Operational efficiency key to maintain cost control

• Receivables management

Macro Drivers

• Economic reforms, Implementation of GST and infrastructure

investment: Logistics sector to be in higher trajectory.

• Ambitious Capex and expansion plans in current fiscal

Future Outlook

33

34